No plans to cut 360 price in Japan - Microsoft

Despite poor sales of the console in Japan, Microsoft has stated that there are no plans to cut the price of the Xbox 360 in the region.

Speaking to Reuters, Darren Houston, president of Microsoft's Japan unit, said the company did not intend to cut the price. "Not at this time," he said.

However, he did concede that a future price cut could not be ruled out.

"We will be watching market conditions. Price cuts are one option," he offered.

Rival console manufacturer Sony announced today that it is slashing USD 100 off the price of the PlayStation 3 in the US, with plans for European discounting expected to be revealed later this week.

Both consoles are being out-sold in Japan, where Nintendo's Wii and DS have become the market leaders in the region.